EUR/USD has risen from 1.06 to above 1.10 this month and has given back almost half that move in under 24 hours. A return to 1.06 is a significant risk, dragging GBP/USD back to 1.25 in the process.
The only caveat is that the European PMI data aren’t a very useful gauge of what’s happening to the economy, and should be treated with some scepticism, but that’s not going to help on a midsummer Friday with no other major data due.
EUR/USD came under heavy bearish pressure and broke below 1.0900 early Friday. Disappointing PMI surveys from Germany, France and Eurozone seem to be weighing heavily on the Euro, while the US Dollar continues to gather strength on risk aversion.
EUR/USD News
GBP/USD holds near 1.2700 after UK Retail Sales and PMI data
GBP/USD stays on the back foot and trades deep in the negative territory near 1.2700. Although the UK Retail Sales data came in slightly better than expected, souring market mood and disappointing UK business PMIs keep the pair undermined. Focus shifts to the S&P Global US PMIs.
GBP/USD News
Gold retreats as USD Index prints a fresh day high, US PMI eyed
Gold price (XAU/USD) has witnessed selling pressure around $1,917.50 in the European session. The short-lived pullback in the precious metal has concluded and it is expected to drop back to an intraday low at $1,910.00.
<a href=”https://clicks.pipaffiliates.com/c?m=7670&c=503446″><img src=”https://ads.pipaffiliates.com/i/7670?c=503446″ width=”120″ height=”600″ /></a>
Free Forex Signals 
Leave a comment